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We are buyers towards 131.05.

We are buyers towards 131.05. | 25 April 2022

25 April 2022, USD/JPY

We are buyers towards 131.05.

Wave Analysis;

This pair is currently tading in an expanding wedge formation,the price has been moving to the upper side in line with the up trend.During the previous trading days, the prcie bounced off from the upper trendline towards the lower side in continuationof the corrective wave cycle four,as at now the price is rallying along the lower trendline.I expect a rebound towards the upper side at around 131.05 or even much higher in continuation of the impulsive wave cycle five.On the flipside should the price break below the lower trendline,then 128.05 would be an ideal place to pick a long term sell position at towards 125.05.

Trade Recommendations;

We are buyers towards 131.05.

Bob Stan
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